National Central University’s Research Center for Taiwan Economic Development released the 2024 Consumer Confidence Index (CCI) on Friday, based on a survey of over 3,000 individuals aged 20 and above across Taiwan. The overall index stood at 74.61 points, marking a 0.88-point decline from the previous month. All six sub-indicators—durable goods purchase timing, stock investment timing, domestic economic outlook, employment opportunities, household financial conditions, and price expectations—showed declines.
The largest drop was in the six-month stock investment timing indicator, which fell by 2.89 points to 52.99. Center CEO Dachrahn Wu (吳大任) explained that Taiwan’s stock market remains above 23,000 points but is driven mainly by AI-related stocks, while traditional industries are facing a downturn.
Real estate indicators also weakened, with the purchase timing index dropping below 100 points, indicating a shift from optimism to pessimism. Wu attributed this to the central bank’s seventh round of selective credit controls and lending restrictions which have significantly impacted the housing market.
Taiwan Realty Group First Vice President Chou He-ming (周鶴鳴) observed that despite forecasts, housing prices remain stable due to developers’ pricing strategies. Instead of cutting prices, developers are offering incentives like free furnishings or appliances. Whether housing prices drop significantly will depend on the central bank’s policies.